Commercial Auto Insurance can cover some or all of the following items:
The insured party (medical payments)
Property damage caused by the insured
The insured vehicle (physical damage)
Third parties (car and people, property damage and bodily injury)
Third party, fire and theft
In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)
The cost to rent a vehicle if yours is damaged.
The cost to tow your vehicle to a repair facility.
Accidents involving uninsured motorists.
Different policies specify the circumstances under which each item is covered. For example, a vehicle can be insured against theft, fire damage, or accidental damage independently.
Commercial auto policies are designed to protect business entities from exposures that arise from the ownership, maintenance, or use of motor vehicles. Such exposures include lawsuits seeking damages for BI or property damage (PD) sustained by third parties in auto accidents for which business entities or certain individuals driving the entities’ vehicles on their behalf may be liable. Policies also cover physical damage to insured companies’ vehicles. Read and learn more about Business Auto Insurance…
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If the insured hires an auto from a vehicle rental agency, the rental agreement will likely hold the insured responsible for any physical damage that occurs to the vehicle during the period of the agreement. In addition, the agreement may render the insured responsible for loss of use of the auto, diminution of value, towing and storage fees, and certain administrative expenses. Loss of use is the income the rental agency loses during the time the damaged auto is out of service for repairs. If the auto has been “totaled,” loss of use includes the period from the date of the loss until a replacement vehicle is obtained.(IRMI)
Commercial Insurance Near Me offers commercial insurance options custom designed to insure your business in case of employee injuries, accidents, property damage, legal liability, business auto, employee-related risks, loss prevention and more.